Maya Gold & Silver Announces a Normal Course
Source: Maya Or & Argent inc.
April 29, 2019 02:00 ET
Maya Gold & Silver Announces a Normal Course
MONTRÉAL, April 29, 2019 (GLOBE NEWSWIRE)
“Corporation”) (TSX: MYA) is pleased to announce that the Toronto Stock Excha nge (the
"TSX") has approved the Corporation’s notice of int ention to make a normal course issuer bid
(the “NCIB”), through which the Corporation may pur chase up to 5,567,799 of its common
shares or approx imately 10% of the public float through the facilit ies of the TSX and certain
Alternative Trading Systems. The number of issued a nd outstanding common shares of Maya
was 78,356,675 and the public float was 55,677,993 as of April 23, 2019. Management and th
board of directors believe that the current market price of the common shares of the Corporation
does not reflect absolutely Maya’s underlying value and current & future projects.
The Corporation may purchase shares under the NCIB over a period of twelv
commencing on May 1, 2019, and ending April 30, 2020, when the bid expires. Under the NCIB,
common shares may be repurchased in open market tra nsactions using the market price at the
time of purchase. The actual number of common share s that may be
of such purchases will be determined by the Corporation. Decisions regarding purchases will be
based on market conditions, share price, best use o f available cash and other factors. The
common shares that will be purchased by the
The number of shares repurchased on any given day m ay not exceed 4,891 common shares,
which is equal to 25% of the average daily trading volume on the TSX for the period of six
months ending March 31, 2019, exc
purchase exception” of the TSX rules. The average d aily volume for this period was calculated
in accordance with the rules of the TSX and is equal to 19,564 common shares.
ABOUT MAYA
Maya Gold & Silver Inc. is a publicly
exploration and development of gold and silver deposits in Morocco. Maya is currently operating
mining and milling operations at its Zgounder Mine, an 85%
subsidiary, CMMM and the ONHYM of the Kingdom of Morocco.
Its portfolio also considers the Boumadine polymeta llic deposit located in the Anti
Mountains of Eastern Morocco. The property is a joi nt venture with ONHYM whereby Maya
retains an 85% ownership.
Maya Gold & Silver Announces a Normal Course
Issuer Bid Share
MONTRÉAL, April 29, 2019 (GLOBE NEWSWIRE) -- Maya Gold & Silver Inc. (“Maya” or the
is pleased to announce that the Toronto Stock Excha nge (the
"TSX") has approved the Corporation’s notice of int ention to make a normal course issuer bid
(the “NCIB”), through which the Corporation may pur chase up to 5,567,799 of its common
imately 10% of the public float through the facilit ies of the TSX and certain
Alternative Trading Systems. The number of issued a nd outstanding common shares of Maya
was 78,356,675 and the public float was 55,677,993 as of April 23, 2019. Management and th
board of directors believe that the current market price of the common shares of the Corporation
does not reflect absolutely Maya’s underlying value and current & future projects.
The Corporation may purchase shares under the NCIB over a period of twelv
commencing on May 1, 2019, and ending April 30, 2020, when the bid expires. Under the NCIB,
common shares may be repurchased in open market tra nsactions using the market price at the
time of purchase. The actual number of common share s that may be purchased and the timing
of such purchases will be determined by the Corporation. Decisions regarding purchases will be
based on market conditions, share price, best use o f available cash and other factors. The
common shares that will be purchased by the Corporation under the NCIB will be cancelled.
The number of shares repurchased on any given day m ay not exceed 4,891 common shares,
which is equal to 25% of the average daily trading volume on the TSX for the period of six
months ending March 31, 2019, exc ept where purchases are in accordance with the “blo ck
purchase exception” of the TSX rules. The average d aily volume for this period was calculated
in accordance with the rules of the TSX and is equal to 19,564 common shares.
Inc. is a publicly -traded Canadian company focused on the operation,
exploration and development of gold and silver deposits in Morocco. Maya is currently operating
mining and milling operations at its Zgounder Mine, an 85% -15% split ownership between its
subsidiary, CMMM and the ONHYM of the Kingdom of Morocco.
Its portfolio also considers the Boumadine polymeta llic deposit located in the Anti
Mountains of Eastern Morocco. The property is a joi nt venture with ONHYM whereby Maya
Maya Gold & Silver Announces a Normal Course
Maya Gold & Silver Inc. (“Maya” or the
is pleased to announce that the Toronto Stock Excha nge (the
"TSX") has approved the Corporation’s notice of int ention to make a normal course issuer bid
(the “NCIB”), through which the Corporation may pur chase up to 5,567,799 of its common
imately 10% of the public float through the facilit ies of the TSX and certain
Alternative Trading Systems. The number of issued a nd outstanding common shares of Maya
was 78,356,675 and the public float was 55,677,993 as of April 23, 2019. Management and th e
board of directors believe that the current market price of the common shares of the Corporation
does not reflect absolutely Maya’s underlying value and current & future projects.
The Corporation may purchase shares under the NCIB over a period of twelv e months
commencing on May 1, 2019, and ending April 30, 2020, when the bid expires. Under the NCIB,
common shares may be repurchased in open market tra nsactions using the market price at the
purchased and the timing
of such purchases will be determined by the Corporation. Decisions regarding purchases will be
based on market conditions, share price, best use o f available cash and other factors. The
Corporation under the NCIB will be cancelled.
The number of shares repurchased on any given day m ay not exceed 4,891 common shares,
which is equal to 25% of the average daily trading volume on the TSX for the period of six
ept where purchases are in accordance with the “blo ck
purchase exception” of the TSX rules. The average d aily volume for this period was calculated
in accordance with the rules of the TSX and is equal to 19,564 common shares.
traded Canadian company focused on the operation,
exploration and development of gold and silver deposits in Morocco. Maya is currently operating
15% split ownership between its
Its portfolio also considers the Boumadine polymeta llic deposit located in the Anti -Atlas
Mountains of Eastern Morocco. The property is a joi nt venture with ONHYM whereby Maya
Additionally, the Corporation’s portfolio includes the Amizmiz and Azegour properties, both
being 100% owned, with gold, tungsten, molybdenum a nd copper deposits covering over 100
square kilometres in a historical mining district
Forward-looking statements
This news release contains statements about future events or future performance and reflects
management’s current expectations and assumptions. These are "forward-looking" because we
have used what we know and expect today to make a s tatement about the future. Forward-
looking statements usually include words such as ma y, intend, plan, expect, anticipate, and
believe or other similar words. We believe the expe ctations reflected in these forward-looking
statements are reasonable. However, actual events a nd results could be substantially different
because of the risks and uncertainties associated w ith our business or events that happen after
the date of this news release. You should not place undue reliance on forward-looking
statements. As a general policy, we do not update f orward-looking statements except as
required by securities laws and regulations. All of the forward-looking statements made in this
press release are qualified by these cautionary sta tements and by those made in the
Corporation’s filings with SEDAR.
On behalf of the Board:
Noureddine Mokaddem
Founder, President & CEO
+1 514-978-6111/+212 661-196-111
NCIB CONTACT INFORMATION
Maya Gold & Silver Inc.:
Mehdi Mokaddem
Trading Desk Manager
1-514-866-2008/1-514-502-9212
www.mayagoldsilver.com